Ukraine's Pension Fund reports on income since year's start

Ukraine's Pension Fund in January 2021 received UAH 36.6 billion (US$1.32 billion) in revenue.

This was reported on the Fund's website.

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It said that the UAH 36.6 billion included UAH 22.8 billion (US$821 million) in the funds it collected on its own, as well as UAH 13.8 billion (US$497 million) that was transferred from the national budget.

The Fund said payments of social security tax amounted to UAH 19.9 billion (US$716.6 million), which was UAH 2.1 billion (US$75.6 million) down on the target figure set at UAH 22 billion (US$821 million).

The Fund's income in January 2020 totaled UAH 33.8 billion (US$1.22 billion), including UAH 21.5 billion (US$774.2 million) in own revenue and UAH 12.3 billion (US$443 million) in funds transferred from the national budget.

National budget for 2021 and pensions

• On December 15, 2020, the Verkhovna Rada, Ukraine's parliament, passed the country's budget for 2021. In the 2021 budget, the deficit of the Pension Fund's own revenues was capped at UAH 26 billion (US$936.3 million).
• On the same day, December 15, 2020, Finance Minister Serhiy Marchenko, while commenting on a question from a lawmaker about cutting the Pension Fund's expenses by UAH 8 billion (US$288 million) in preparation for the second reading of the draft budget for 2021, said there were enough funds in the 2021 budget for payment of pensions.
• Pensions are to be increased by 11% as of March 1, 2021. In April, pensions for working pensioners are to be automatically recalculated, taking into account the amount of salaries or wages, as well as the length of service.